Coinbase is often praised for its ease of use, and one of the main attractions is that it offers instant transfers. But does Coinbase actually transfer instantly?
The answer is both yes and no. When you make a purchase with Coinbase, the funds are transferred from your bank account to Coinbase’s account instantly.
However, when you then want to withdraw those funds from Coinbase, the process is not instantaneous.
Withdrawals from Coinbase can take up to four business days to complete. So while your purchase is instantaneous, you may have to wait a while to actually receive your funds.
This can be frustrating for users who want to quickly access their money. However, it’s important to remember that Coinbase is a regulated financial institution.
And as such, they are required to follow certain anti-money laundering and know-your-customer regulations.
These regulations require Coinbase to verify the identity of its users before allowing them to make withdrawals. This process can take a few days, but it helps to keep everyone safe from fraud and scams.
So while it may be annoying to have to wait a few days for your withdrawal to go through, it’s important to remember that this delay is for your protection.